đ $TON Technical Analysis & Forecast đ
Current Price: $5.727
24h Range: $5.658 - $5.889
Analysis: $TON shows a compelling trading pattern as it consolidates within an ascending triangle on the 4-hour chart, hinting at potential volatility and directional movement. The price action remains bullish as it continually tests the upper resistance line, currently just below $5.889, with support firmly established around $5.658.
đ Technical Indicators:
The volume has seen a significant uptick, indicating strong interest and potential for a breakout.
The Relative Strength Index (RSI) hovers near the midpoint, suggesting room for upward movement without being overbought.
Prediction: Should TON break through the resistance at $5.889, we could see an upward trajectory aiming for the next psychological barrier at $6.200. Conversely, if the price breaks below the current support level, it could test lower supports at around $5.600.
đĄ Trading Strategy:
Long Position: Enter above $5.889, targeting $6.200, with a stop loss just below $5.658.
Short Position: Consider a short if it dips below $5.658, targeting $5.600, with a stop loss set at $5.728.
Stay tuned for more updates, and as always, manage your risks wisely!
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